Myanmar recorded US$8.9 billion in total trade in the first quarter of fiscal 2020-21, $2.5 billion less than the same period of last year. The fall was attributed to reduced exports of natural gas, gems, garment products, and fishery, and other animal products due to the COVID-19 outbreak. Imports also saw a decline with the […]
Pathein Industrial Complex to improve living standards
January 28, 2021 by
The second phase of the Pathein Industrial Complex which aims to improve the township’s standard of living is slated to commence this year. The second phase will see the construction of shopping centers, hotels, resorts, and luxury and affordable housing projects in Pathein township, Ayeyarwady Region, said U Kyitha Tun, the deputy chief executive officer […]
Furloughed Myanmar workers required to get certificates
January 27, 2021 by
Furloughed workers from the cut-make-pack (CMP) industries and factories will need to attend and pass CMP skill courses to obtain certificates, said Minister of Labour, Immigration and Population U Thein Swe. The minister said arrangements will be made to provide training for these workers with leaves of absence due to the current COVID-19 pandemic. A […]
Myanmar’s first textile-based industrial zone to be established in Sagaing
January 26, 2021 by
Eastern Development International (Myanmar) and Dongzhan Textile Group, a Chinese company, are set to jointly develop a textile industrial cluster worth over US$371 million in Sagaing Region. The two companies will work with the private sector on all stages of construction of the project, making it the first textile-based industrial zone in Myanmar. The project […]
CMP garment exports drop by 25 per cent in Q1
January 25, 2021 by
Myanmar’s garment export has dropped by 25 percent as of the first quarter of the current financial year 2020-2021 compared with a year-ago period on the back of a slump in demand by the European Union market, the Ministry of Commerce stated. Exports of garments manufactured under the cut-make-pack (CMP) system were valued at US$870 […]
CMP raw materials import plunges to $476 mln over past 3 months
January 20, 2021 by
Imports of raw materials by CMP (cut-make-pack) businesses has touched a low of US$476.3 million as of 1 January in the current financial year 2020-2021 since October 2020, which fell from $581.34 million registered in the previous FY2019-2020, according to the Ministry of Commerce. The figures reflected a decrease of $105 million, the Commerce Ministry’s […]
YRIC endorses $4.92 mln worth 4 proposals in Q1 creating over 2,000 jobs
January 15, 2021 by
The Yangon Region Investment Committee (YRIC) has endorsed four foreign enterprises from China, Singapore and Hong Kong SAR in the manufacturing sector, with an estimated capital of US$4.92 million, in the first quarter (Oct-Dec) of the current financial year 2020-2021. Those enterprises are to create over 2,000 jobs. They will execute manufacturing of bags, footwear, […]
Myanmar’s garment sector told to diversify
December 16, 2020 by
Myanmar’s garment sector needs to diversify its market due to dwindling orders as a result of the current COVID-19 situation, said the general secretary of the Myanmar Garment Entrepreneurs Association. Daw Khaing Khaing Nwe said that Myanmar’s garment sector must try to expand the market to overcome challenges brought on by the current pandemic, especially […]
CMP raw materials import plunges to $264.7 mln as of 20 November
December 11, 2020 by
Imports of raw materials by CMP businesses touched a low of US$264.7 million as of 20 November in the current financial year 2020-2021, which fell from $332 million registered in the previous 2019-2020FY, according to the Ministry of Commerce. The figures reflected a decrease of $67 million, the Commerce Ministry’s data showed. At present, some […]
CMP garment exports rise last FY despite COVID crisis
November 20, 2020 by
<a href=”https://youtu.be/pCvYiQYDHcE” target=”_blank”><img src=”https://consult-myanmar.com/wp-content/uploads/2013/10/doingbusinessinmyanmar-thumbnail2.jpg” width=”600″ height=”250″ /> </a> Myanmar’s garment export sector, which constitutes over 20 per cent of overall export value, stepped up amid the coronavirus impacts. Exports of garments manufactured under the cut-make-pack (CMP) system were valued US$4.798 billion in the last financial year 2019-2020, according to the data from the Ministry of […]
